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At the open: Dow +0.04% to 14081. S&P +0.21% to 1519. Nasdaq +0.29% to 3172. Treasurys:...

At the open: Dow +0.04% to 14081. S&P +0.21% to 1519. Nasdaq +0.29% to 3172.
Treasurys: 30-year +0.07%. 10-yr +0.08%. 5-yr +0.04%.
Commodities: Crude +0.08% to $92.83. Gold -0.36% to $1589.9.
Currencies: Euro -0.14% vs. dollar. Yen +0.13%. Pound -0.08%.
Comments (11)
  • mjc99
    , contributor
    Comments (72) | Send Message
     
    Were those opening DOW, S&P, and NASDAQ increases supposed to be increases based on points, not percentages?
    28 Feb 2013, 09:39 AM Reply Like
  • Chris DeMuth Jr.
    , contributor
    Comments (4352) | Send Message
     
    ... in nominal US$. In nominal US$, it can go to infinity. In gold/oil/basket of goods/purchasing power, it is going in the opposite direction.
    28 Feb 2013, 10:43 AM Reply Like
  • DavidTTaylor
    , contributor
    Comments (62) | Send Message
     
    DOW versus XAU (Gold ) is low:
    http://bit.ly/WszLSk
    28 Feb 2013, 11:39 AM Reply Like
  • Special Situations and Arbs
    , contributor
    Comments (586) | Send Message
     
    good point Chris. What do you make of the recent Gold price?
    28 Feb 2013, 11:39 AM Reply Like
  • Chris DeMuth Jr.
    , contributor
    Comments (4352) | Send Message
     
    Oh, I am gratified to see it so strong (but may have a somewhat longer definition of "recent" than most). Recently, it buys more and more dollars. Between the recent Bretton Woods meeting and the more recent Ben Bernanke, seems pretty auspicious time to own a lot of gold. In terms of more specific moves in shorter increments, I have no idea whatsoever and am somewhat skeptical that anyone else does either. It is virtually certain to go up, down, or sideways.
    28 Feb 2013, 11:56 AM Reply Like
  • kkeate
    , contributor
    Comments (23) | Send Message
     
    Can someone please explain how huge deficits, sequestration looming, etc... could lead to an all time high for the Dow? Huge correction coming soon
    28 Feb 2013, 10:48 AM Reply Like
  • Chris DeMuth Jr.
    , contributor
    Comments (4352) | Send Message
     
    Asset price inflation is not necessarily a good thing. How can huge deficits coexist with a nominal price boom? It can happen: http://seekingalpha.co...
    28 Feb 2013, 10:57 AM Reply Like
  • danzada
    , contributor
    Comments (136) | Send Message
     
    That's the thing. Even if sequestration itself doesn't happen, the budget deficit is going to get slashed one way or another, and that is contractionary.
    28 Feb 2013, 01:29 PM Reply Like
  • rooksmith
    , contributor
    Comments (89) | Send Message
     
    Talk about irrational exuberance! The equity market is way overdue for a correction. Dow is hitting an all time high just as we head into the final 48 hrs before sequestration
    28 Feb 2013, 01:42 PM Reply Like
  • blackswans
    , contributor
    Comments (155) | Send Message
     
    Maybe the problem lies in your view of how the markets should be acting versus how the markets are actually moving.
    28 Feb 2013, 02:16 PM Reply Like
  • sean.parmelee
    , contributor
    Comments (790) | Send Message
     
    Thank you for this.
    28 Feb 2013, 02:20 PM Reply Like
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